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Determination of the amount of bond to release <br />The first step in determining the amount of bond proposed for release is to remove <br />costs associated with activities previously approved and bonded but never <br />implemented. Picketwire requested that approval for a number of previously approved <br />revisions be rescinded and the full amount of bond associated with these activities be <br />released, which is appropriate as a bond reduction (Table A). The direct costs for these <br />approved activities that were not implemented is approximately $113,267.22 and results <br />in a total dollar amount of bond reduction (direct costs + indirect costs) for activities <br />previously approved but never implemented of $148,141.00 (line item 2 in Table B). <br />The applicant has removed and modified permit text to eliminate approvals of these <br />activities. <br />Totaling the bond reduction ($148,141.00) plus the bond release amount ($286,352.00) <br />results in a maximum releasable amount of $434,493.00. However, the Division must <br />always retain enough bond to complete the remainder of the reclamation plan. <br />Therefore, the estimate was recalculated using current unit costs but removing costs for <br />items included in this bond release (Exhibit 28, appendix B). The Division must retain <br />$2,744,969.00 (Table B, line item #5). Subtracting line item #5 from the current <br />reclamation liability shown in line item #1 results in a net bond release of $293,090.00. <br />Table B <br />1. Current Liabili - TR-48 A licable Amounts $ 3,038,059.00 <br /> <br />2. SL-02 Bond Reduction Amount° $ 148,141.00 <br /> <br />3. SL-02 Bond Release -Maximum Releasable Amount° $ 286,352.00 <br /> <br />4. SL-02 Total Maximum Releasable Amount° $ 434,493.00 <br /> <br />5. SL-02 Bond Recalculations $ 2,744,969.00 <br /> <br />6. New A licable Amountf $ 2,889,918.00 <br /> <br />7. Available Bond Release9 $ 144,949.00 <br /> <br />8. Total Bond Reduction and Release Amount" $ 293,090.00 <br /> <br />Phase I Bond Release Percents e' 5.0% <br /> <br /> <br />a: Current Bond Liabili in Old Dollars -Februa 2005 Estimate <br />b: Bond Reduction -Structures Permitted but not Built in Old Dollars - Februa 2005 Estimate <br />c: Maximum Phase IAmount -ALL Completed Phase I Work; in Old Dollars -February 2005 <br />Estimate <br />d: Bond Reduction Amount + Maximum Phase I Releasable Amount in Old Dollars -February 2005 <br />